Report: Bryan Colangelo extended to multi-year deal

The Raptors president and general manager has confirmed to The National Post that he has agreed in principle to a multi-year contract extension. His five-year deal, signed in 2006, was set to expire on June 30th.

Details of the deal were not immediately known. Colangelo is in Secaucus, New Jersey, where he will represent the Raptors at Tuesday night’s draft lottery.

The news brings a poorly plotted soap opera surrounding his job status to an end. Backroom bickering, including one board member representing the Ontario Teachers’ Pension Plan — the majority owners of Maple Leaf Sports and Entertainment who are looking to sell their share — that had been holding up a new deal for the general manager have dominated the Raptors’ news cycle for the past few months.

There was one published report that MLSE would turn over draft responsibilities to 74-year-old team advisor Wayne Embry should a deal not be reached with Colangelo. With this news, that remains a what-if scenario.

Colangelo’s status was an issue for the Raptors throughout their 22-win season, and became a bigger issue as the off-season arrived. It has been widely reported that Maple Leaf Sports and Entertainment’s board was divided on whether to bring back the two-time NBA executive of the year.

Larry Tanenbaum, a potential buyer of Teachers’ stake in the team and a minority owner of MLSE as it stands, has long been believed to be a Colangelo backer. Glen Silvestri, one of Teachers’ representatives on the board, is said to have been against Colangelo’s re-signing.

im not a triano fan by any means but i think with everything going on with the CBA it'd be prudent to sign him to a one year. lets see what he can do with more talent. there aren't any coaches out there in our price range anyways. worst case scenario we get the top pick in next years draft.

We can only speculate as to why but you have to wonder if the NBA told OTPP to stop screwing around and get a management team in place or else the league might cause headaches in its sale process. The other possible option is that the bidders in play each okayed the extension.

Honestly, I never thought BC would take anything less than a 4 year deal. I'm sure there are some incentives in place.

At least it's over now and we can stop speculating on front office moves and just focus on coaches/players.

I would love to hear what you think BC should have done. I don't like making excuses for people either but this is a rebuild and next is gonna suck too, but I'm ok with that because that's how rebuilds work.

The Raptors were dealt a good player in Bosh, he tried to build around him, didn't work, end of story.

He probably should have considered a few more plan B's in the event Bosh walked. He assumed Bosh would resign or that he would be able to work out a sweet sign and trade. Neither happened so he is at fault. Instead of manning up and acknowledging his mistakes he went and trashed Bosh which was unprofessional and lame.

Even if Bosh wrote it in blood that he was coming back, in the off-season you are offered $100 mil and a chance to play with Wade and Bron, why wouldn't he take it??? Stop crying BC, it was your gamble and you lost as you are the gate-keeper of this franchise, no one else.

Colangelo was one of the higest paid GM's before this and probably after and we're getting NO bang for the money paid to him. Just look at the roster.

He probably should have considered a few more plan B's in the event Bosh walked. He assumed Bosh would resign or that he would be able to work out a sweet sign and trade. Neither happened so he is at fault. Instead of manning up and acknowledging his mistakes he went and trashed Bosh which was unprofessional and lame.

Even if Bosh wrote it in blood that he was coming back, in the off-season you are offered $100 mil and a chance to play with Wade and Bron, why wouldn't he take it??? Stop crying BC, it was your gamble and you lost as you are the gate-keeper of this franchise, no one else.

Colangelo was one of the higest paid GM's before this and probably after and we're getting NO bang for the money paid to him. Just look at the roster.

What kind of plan B can you come up with if your best player chooses not to re-sign? And at what point was Colangelo crying? I must have missed that.

And what exactly does it matter how much the GM is getting paid? It doesn't count towards the cap.

The best thing about this to me is that the Colangelo apologists have no excuses left. He has his extension. He has his management team. His scouting staff. His coach. His players. There is no Sam Mitchell to blame. There is no Chris Bosh. There is no TJ Ford. No Rob Babcock. You won't even be able to blame ownership very much longer. Even Bargnani will be gone, so, you won't be able to flay him.

Finally, no more excuses. No more mulligans. This will be his second chance to completely rebuild the team. His third or fourth re-tooling (depending on your mileage). He will have at least one and probably two high draft picks to work with. This time, trying really hard, wagging a silver tongue and wearing nice shirts isn't going to be good enough.

I'm just so sick of discussing him, I am glad it's over. Now, the team needs to rebuild properly and start to produce. No more ifs, ands or buts...

He probably should have considered a few more plan B's in the event Bosh walked. He assumed Bosh would resign or that he would be able to work out a sweet sign and trade. Neither happened so he is at fault. Instead of manning up and acknowledging his mistakes he went and trashed Bosh which was unprofessional and lame.

Even if Bosh wrote it in blood that he was coming back, in the off-season you are offered $100 mil and a chance to play with Wade and Bron, why wouldn't he take it??? Stop crying BC, it was your gamble and you lost as you are the gate-keeper of this franchise, no one else.

Colangelo was one of the higest paid GM's before this and probably after and we're getting NO bang for the money paid to him. Just look at the roster.

All hindsight and misleading on CB's part, as well. You honestly think, in BC's experience in that line of business, the studies and accolades he has, that he'd make a stupid blind guess at Bosh re-signing if Bosh didn't assure him of that? C'mon, man. He's better at this game than all of us, no matter what we think. Hindsight is just that, hindsight.

The NBA Larry O'Brien Trophy's 'Big Decision': "This is hard..(smiling)...but..I've decided to take my talents to North Texas, to join The Dallas Mavericks.

I don't think he's done a great job, but this is only a good thing for the franchise. It gives them stability and Colangelo is, at the very least, a good GM.

IMO, it was more of - he did the best with what he had, and things just didnt work out.
Id want for him to be replaced, but probably not at this point in the Raps situation. Im interested to see how he'd finish what he started with this rebuild and how far (or far back) its going to take the team.
I agree, re-signing him gives this team stability, and starting at the top is setting a perfect example. I think now the coaching issue is at hand, much as i would like to have Triano replaced, i wont mind him staying either, for the same reasons as with BC's re-signing. Id be interested to see Triano work with a core of players, and get this team from experimental to consistent.

The best thing about this to me is that the Colangelo apologists have no excuses left. He has his extension. He has his management team. His scouting staff. His coach. His players. There is no Sam Mitchell to blame. There is no Chris Bosh. There is no TJ Ford. No Rob Babcock. You won't even be able to blame ownership very much longer. Even Bargnani will be gone, so, you won't be able to flay him.

Finally, no more excuses. No more mulligans. This will be his second chance to completely rebuild the team. His third or fourth re-tooling (depending on your mileage). He will have at least one and probably two high draft picks to work with. This time, trying really hard, wagging a silver tongue and wearing nice shirts isn't going to be good enough.

I'm just so sick of discussing him, I am glad it's over. Now, the team needs to rebuild properly and start to produce. No more ifs, ands or buts...

I agree, no more excuses left from a management standpoint but what you also have to keep in mind is this is still a very, very young team. And there is no legit superstar to take this team to the next level. So there are still lots of bumps ahead for this team, but at least theres already one obstacle thats been taken care of.

I agree. You're lucky to get 20 cents off a dollar on UFA sign & trade.

My main point is this: the Bosh era was a failure. And I don't blame BC for that. Most GM's in his position would've hung on to him as long as possible.

I think all of BC's drafts and FA signings and trades in the 2010-2011 year were pretty bang on (with maybe the exception of Kleiza but we don't know how hurt he was).

Colangelo was given a team with a young big man who had the potential to be a franchise player. In hindsight, what he should have done was traded Bosh and started with all new pieces. Of course if he had done that, it would have been a shock to all Raptor fans and not looked at as a good move at all. In reality, Bosh never turned into the player many hoped he would. That's not Colangelo's fault.